4 Ways to Finding the Perfect Name for Your Business

Starting a business won’t just help you make some money; it’ll also help you explore those thrilling passions you’ve been considering for quite a while now.

Let’s say for months you’ve nursed your business idea until it’s matured, and now ready to blossom into a viable business. You’ve invested time in mastering your craft, and you’re ready to take your business into the actual world.

So you put on a shirt, buckled your shoes, picked up your business model, gathered your strong leadership skills, financial skills, and your creative thinking. You’re all set, but before you head out the door, there’s something you’re forgetting, the perfect brand name for your business.

The perfect name won’t just make your business and its products easy to identify, it would also emotionally connect your business to its target audience, and that’s something that can either make or break your new company.

And just in case you’re having some difficulty finding the perfect name for your business, then worry no more because we’ve prepared this short and simple guide for you.

4 Ways to Finding the Perfect Name for Your Business

Whether you’re starting a restaurant like DeLuca’s Subway, a social media platform like Zuckerberg’s Facebook, or a tech company like Luckey’s Oculus, the perfect name for your business is within your grasp.

Fun Fact: all the businesses mentioned above were all started by teenagers.

Here’s how you can go about finding a name for your business.

1. Understand your audience and create a Project Statement

Courtesy: Unsplash

To create a name that your target audience can readily connect with, you must first have a solid understanding of the particular type of message you want your brand name to communicate and who your target audience is.

This can help you decide whether your brand name should be powerful, fun, pragmatic, modern, or intriguing. It’ll also give you the motivation you need to get through the lengthy and winding road of naming your company.

An excellent brand name not only has meaning but also provides it. It lays the groundwork for developing a strong brand identity that will support other important areas of your business, but it can only do so if it’s in line with your consumers’ desires.

As a result, write a one or two sentence project statement that captures the core of what your brand name should represent. 

Here are some great examples of project statements:

  • We’re looking for a classy name that quickly conjures up ideas of a high-end teen’s fashion label.
  • Our company needs a name that is both instructive and distinguishes us from the competition.
  • We need a powerful brand name that positions us as a leading solution. But we also want to differentiate ourselves from the usual industry names.

2. Begin with a Solid Foundation

You’ll need to know the concepts and images you want to represent in your name. Rather than focusing on the descriptive side of their business, we advise entrepreneurs to concentrate on communicating one or two essential core principles that are critical to their business, culture, and values.

If you’re starting a food delivery service, your core principles may include healthy living, ethically produced products, great customer service, and quick delivery.

3. Know the Danger Zone

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Once you’ve settled on the style, theme, and goal of your brand name, it’s time to put on your thinking cap, grab some cups of coffee, and start brainstorming your brand name.

But, before you brainstorm, be aware of the risky areas in naming, because with so many trademarks, using a single English phrase is becoming increasingly difficult and legally risky. So, avoid:

  • Using Single English words
  • Using power-related words like icon, united, and force
  • Using symbolic words like spring, rocket, and bridge

While brainstorming, find a great brand name that CAREs by ensuring it’s:

  • Contextual: It makes sense to your target audience.
  • Appealing: It sounds nice and is easy to say.
  • Remarkable: It’s memorable, and can trigger conversations.
  • Evocative: It triggers an emotional response from your audience.

4. Harness Team Creativity or Use a Business Name Generator

To make your brainstorming session easier, get a team, discuss your business with them and encourage them to come up with the craziest and most creative name ideas they can think of. Let your team tinker with as many ideas as they can because those crazy ideas may just inspire the best ones.

But if coming up with a brilliant name sounds time-consuming, and you don’t have a team to help you, then a reliable business name generator is the way to go.

Business is War

With over 3.5 million business applications submitted in 2019, 4.35 million applications in 2020, and 1.36 million applications in the first quarter of 2021, your business needs the perfect brand name that’d help it stand out from the intense competition out there.

 

 

Author – Grant Polachek

Grant Polachek is the Head of Branding at Inc 500 company Squadhelp.com, the worlds #1 naming platform, with 30,000+ customers from early-stage startups across the globe to the largest corporations including Nestle, Philips, Hilton, Pepsi, and AutoNation. Get inspired by exploring these winning business name ideas.

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